Meriden, Connecticut Property Taxes
The median property tax rate in Meriden, CT is 3.48%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Meriden, the typical annual property tax bill reaches $4,983, far exceeding the national median of $2,690. Property taxes in Meriden are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Meriden's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Meriden or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meriden, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.48%
Estimate Property Tax Bill
$4,877
Ownwell’s Meriden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meriden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meriden to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Meriden, Connecticut
Property taxes in Meriden, Connecticut, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Meriden is 3.48%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Meriden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meriden estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Meriden's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06450 has the highest median property tax rate of 3.48%, while zip code 06451 has the lowest median tax rate of 3.48%. Understanding how these areas compare with Meriden provides valuable insights into the varying tax landscape across New Haven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meriden Tax Rate
3.48%
Average New Haven County Tax Rate
3.48%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meriden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06450 | 3.48% | 3.48% | 3.48% | 3.71% | 3.71% |
| 06451 | 3.48% | 3.48% | 3.48% | 3.71% | 3.71% |
Source: Ownwell
Property Tax Assessment Values Across Meriden, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Meriden, Connecticut. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the New Haven County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Meriden, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the highest median tax bill in Meriden is $4,985 in the 06451 zip code, while the lowest is $4,981 in the 06450 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Meriden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meriden Assessed Value
$140,140
Average New Haven County Assessed Value
$174,720
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meriden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06450 | $69,160 | $112,770 | $140,140 | $167,930 | $201,390 |
| 06451 | $98,840 | $118,020 | $140,210 | $168,788 | $199,731 |
Source: Ownwell
Property Tax Bills Across Meriden, Connecticut
In Meriden, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and market trends, influence the assessed value. For homeowners in Meriden, the median home price is $140,140, with tax bills ranging from $4,108 at the 25th percentile to $7,048 at the 90th percentile. The highest median tax bill in the city is $4,985 in the 06451 zip code, while the lowest is $4,981 in the 06450 zip code. These property tax bills significantly impact homeowners' annual expenses, often representing a substantial portion of their housing costs. Compared to the national median property tax rate of 0.99%, Meriden's property tax rates can result in higher annual tax bills, reflecting the importance of understanding local property tax dynamics for effective financial planning.
Average Meriden Tax Bill
$4,983
Average New Haven County Tax Bill
$6,350
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Meriden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06450 | $2,416 | $4,023 | $4,981 | $5,941 | $7,048 |
| 06451 | $3,553 | $4,178 | $4,985 | $5,930 | $7,051 |
Source: Ownwell